Enacted in 1999, this law authorized the Authority to issue up to $550 million in bonds to fund partial grants to public and private four-year colleges and universities to enable them to finance preservation of their facilities and to improve and expand technological infrastructures. In 2000, the Authority issued two series of bonds under this program for a combined total par amount of $278 million. The Authority sold its third series of bonds in an amount of $194,590,000 in November 2002. A fourth series of bonds in an amount of approximately $77 million was issued in 2004. As part of the Higher Education Capital Facilities Programs, the Authority issued $203,310,000 in four series of bonds in 2014.